Rancho Mirage is continuing to grow rapidly, and home prices are following suit. If you are thinking about purchasing a home, it is a good idea to get a home inspection!
In this real estate update, we’ll be taking a look at all the statistics and information you need to keep up with the latest developments.
Market Forecast & Real Estate Stats
Here are the latest available statistics for the Rancho Mirage real estate market as of December 2019.
- Median home value increased 2.9% to just over $527,000 over the course of 2019
- The average time homes spend on the market before being sold is 91 days
- The median list price per square foot in Rancho Mirage is $245
Overall, the market forecast in Rancho Mirage is healthy and relatively competitive. The market is currently a seller’s market, meaning that there are plenty of buyers who are looking to buy homes in the area.
It’s estimated that home values will continue to increase by about 3.4% in the coming year.
Most & Least Expensive Areas
The most expensive areas in Rancho Mirage include:
- Edom – Median home value of $731,954
- Frank Sinatra Dr / Morningside Dr – Median home value of $497,177
- Rimlon – Median home value of $458,551
The least expensive areas in Rancho Mirage include:
- City Center – Median home value of $429,378
- Morningstar Rd / Desert Creek Ln – Median home value of $413,711
Is It Time To Buy Or Sell?
Now is a great time to buy a home in Rancho Mirage! Property values have been rising consistently, and are forecasted to continue to climb in the near future!
This is a great opportunity to buy a new home and make the most of your investment.